Saturday, January 29, 2011

IMF to US: Better start taking care of business

January 29, 2011 by Ed Morrissey

You remember the IMF, right? It’s the organization that had to partner with the EU in order to rescue Greece from its massive debt and collapsing bond structure — a task accomplished with around $7 billion from the US. Now the IMF has a warning for the US as well, that our own debt is Greecing the skids to a similar but much more disastrous conclusion in the long term:

U.S. officials must act quickly to control government deficits or face slower growth and even more difficult choices in the future, the International Monetary Fund said Thursday in a report criticizing the tepid U.S. response to its rising public debt.  Read More